SpaceX Stock Soars 24% on Record $75B IPO Debut, June 13

SPCX opened trading Friday at $150, an 11% jump from its $135 IPO price, and climbed to $176.52 intraday. The rocket and satellite company raised $75 billion, the largest IPO ever, selling 555.6 million shares. Elon Musk’s combined stakes in SpaceX and Tesla pushed his net worth to $1.1 trillion, making him the world’s first trillionaire. This matters because it signals massive investor appetite for space, AI, and satellite businesses.

Record IPO Shatters Previous Benchmarks

SpaceX raised $75 billion, more than double Saudi Aramco’s $29.4 billion record from 2019. The company sold 555.6 million shares at $135 each, valuing SpaceX at $1.77 trillion on day one. Banks earned $500 million in fees on the deal. Retail investors submitted over $100 billion in orders but received only about 20% of available shares, leaving unfilled demand that could fuel further buying.

Stock Surges on First-Day Trading

SPCX opened at $150 on Friday and hit $176.52 by midday, a 24% gain from the IPO price. The stock traded 389 million shares in historic volume. Meyka rates SPCX a D+ with a Strong Sell recommendation based on weak fundamentals. The company posted a $41.3 billion cumulative loss since 2002, though it has been cash-flow positive since 2015. Only Starlink, the satellite internet division, is profitable today.

Why Investors Are Betting Big on SpaceX

Musk said SpaceX needs capital for a significant growth phase, including plans to deploy over 100,000 satellites for communications and build AI data centers in space. The company acquired Musk’s xAI startup in February 2026, adding AI models and data center assets. Analysts view the debut as a test of the “Musk premium” that has driven Tesla’s $1.2 trillion valuation. Upcoming IPOs for Anthropic and OpenAI will watch SpaceX’s performance closely.

Retail Demand Outpaced Supply by 5-to-1

Retail orders topped $100 billion while SpaceX allocated only about $15 billion of shares to individual investors. Analysts warn the stock will be volatile as unfilled demand creates additional buying pressure. SpaceX opened trading at $150, above the IPO price, as underwriters managed extraordinary order volumes. BlackRock sought $5 billion in shares, while Saudi Arabia’s Public Investment Fund and Kuwait Investment Authority each ordered $1 billion to $5 billion.

Final Thoughts

SPCX jumped 24% on its debut but faces fundamental headwinds. Meyka’s D+ rating reflects negative earnings, massive accumulated losses, and extreme valuations. With the stock at $167.32 and trading at 202x sales, downside risk outweighs upside potential for most investors.

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